Shares of GG Engineering (GG Engineering), a small-cap stock priced below ₹5, have shown significant growth during today’s trading session.
The penny stock has surged by nearly 12%, reaching a peak of ₹1.19 per share in intraday trading.
This rise in value can be attributed to recent updates in the company’s order book.
Recent data available on the BSE indicates that the small-cap firm has successfully secured orders totaling ₹21 crore for the supply of raw iron material from prominent industrial entities.
Firm Secures ₹21 Crore Orders for Iron Material Supplies
GG Engineering, operating in the small-cap sector below ₹5, has officially informed the Indian Stock Exchange about its latest order book enhancement.
The company statement reads, “GG Engineering Limited is delighted to announce the fulfillment of Iron Raw Material orders for esteemed industrial players.
The aggregate value of these orders stands at ₹210 million.
The company is committed to completing these deliveries within the upcoming 30-45 days, while also eagerly anticipating additional orders in the third quarter of this fiscal year.”
Successful Rights Issue Allotment
Furthermore, GG Engineering recently initiated a rights issue to raise capital.
The company’s rights issue committee granted approval last week for the allocation of 49,88,20,215 company shares at a nominal value of Re 1 per equity share.
This strategic move is expected to contribute to the company’s financial growth and development.
